Actuary - Property and Casualty Insurance (Hybrid)

American Family Insurance Agency Staff; Madison (WI); Hybrid; USD 128,000 - 218,000; Full time

Benefits offered by this job

Excellent benefits package

401(k) and pension plans

Annual incentive program

9 paid holidays and PTO (23 days)

Job summary

American Family Insurance is seeking an experienced Actuary on the Rate Indications team to lead complex pricing analyses for personal lines property. You will be the subject matter expert, model and project leader, and consultant to partners across the organization.

Present findings and recommendations to support pricing strategies and rate development. The role reports to Senior Manager, Product Actuary and offers a hybrid work arrangement with relocation support for eligible candidates.

Qualifications

• ACAS/FCAS designation or Fellow status preferred.
• Extensive experience in property & casualty pricing and ratemaking.
• Strong statistical modeling and data forecasting skills.
• Ability to lead complex actuarial analyses and present recommendations.
• Experience partnering with business stakeholders across functions.

Responsibilities

• Lead and perform complex actuarial analyses for personal lines pricing.
• Develop and refine pricing strategies and methodologies.
• Present findings and recommendations to cross-functional partners.
• Support pricing committee discussions and rate review processes.
• Oversee annual statements and reserves-related tasks.
• Mentor junior actuarial staff and ensure model governance.

Skills

Actuarial modeling

Ratemaking & pricing

ACAS/ FCAS

Forecasting & analytics

Stakeholder communication

Industry knowledge

Education

ACAS/FCAS designation

Job description

Description

As an Actuary on the Rate Indications team you will lead and perform most complex analysis for the full range of actuarial activities related to insurance pricing for personal lines property. Lead complex models and projections to enable the business to generate consistent and sound prices. Be the subject matter expert and consultant to partners throughout the organization. Present findings and recommendations regarding the development or effectiveness of multiple strategies.

You will report to Senior Manager, Product Actuary

This role is not eligible for sponsorship.

#LI-Hybrid

Position Compensation Range:

$128,000.00 - $218,000.00

Pay Rate Type:

Salary

Compensation may vary based on the job level and your geographic work location. Relocation support is offered for eligible candidates.

Primary Accountabilities

• Contribute to recommendations and significant revisions to one or more actuarial methodologies related to insurance pricing, ratemaking.
• Develop relationship with main partners and provide insights and solutions to address specific business concerns.
• Explore new concepts statistical models, and data sources to deliver innovative solutions for the business.
• Contribute to all aspects of indication development and owns the recurring process.
• Facilitate the rate review process and contribute to the pricing committee meetings to support the pricing strategy.
• Represent the development of pricing for new products and rating structures.
• Represent pricing on various data efforts including dataset development and consultation on data and analytical development.
• Assist with development of classification ratemaking methodologies and models.
• Monitor industry and competitor trends to determine potential impact to actuarial strategies and solutions.
• Responsible for putting together annual statement exhibits related to loss and LAE expenses.
• Perform the annual determination of the factor reserves.

Specialized Knowledge & Skills Requirements

• Demonstrated experience providing customer-driven solutions, support, or service.
• Extensive knowledge and understanding of property and casualty products, pricing, rates and industry trends.
• Extensive knowledge and understanding of underwriting guidelines and concepts, pricing, ratemaking, loss reserving, modeling or reinsurance depending upon area of specialty.
• Demonstrated experience performing statistical/actuarial analysis and data forecasting and modeling techniques.
• Extensive knowledge and understanding of forecasting and statistical analysis and modeling.
• Associate or Fellow in Casualty Actuary Society (ACAS or FCAS).

Licenses

• Not applicable.

Travel Requirements

• Up to 10%.

Physical Requirements

• Work that primarily involves sitting/standing.

Working Conditions

• Not applicable.

Additional Information

• To ensure a strong start, all employees participate in our New Employee Orientation during their first week. This experience is held in person at our Madison, WI Headquarters or one of our AmFam core locations to help you connect with our mission, meet key team members and build relationships that support your growth. At times, sessions may be delivered virtually based on scheduling and availability.
• Offer to selected candidate will be made contingent on the results of applicable background checks
• Offer to selected candidate is contingent on signing a non-disclosure agreement for proprietary information, trade secrets, and inventions
• Sponsorship will not be considered for this position unless specified in the posting

In this hybrid role you will be expected to work a minimum of 10 days per month out of the Boston, MA or Madison, WI offices.

We provide benefits that support your physical, emotional, and financial wellbeing. You will have access to comprehensive medical, dental, vision and wellbeing benefits that enable you to take care of your health. We also offer a competitive 401(k) contribution, a pension plan, an annual incentive, 9 paid holidays and a paid time off program (23 days accrued annually for full-time employees). In addition, our student loan repayment program and paid-family leave are available to support our employees and their families. Interns and contingent workers are not eligible for American Family Insurance Group benefits.

We are an equal opportunity employer. It is our policy to comply with all applicable federal, state and local laws pertaining to non-discrimination, non-harassment and equal opportunity. We also consider qualified applicants with criminal histories, consistent with applicable federal, state and local law.

American Family Insurance is committed to the full inclusion of all qualified individuals. If a reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please email [e-mail] to request a reasonable accommodation.

#LI-AB1